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Union Budget 2022 to focus on infra, hospitality sectors; HCL Tech, HDFC Bank, Wipro among top stocks to buy

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3 years ago

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Union Budget 2022 to focus on infra, hospitality sectors; HCL Tech, HDFC Bank, Wipro among top stocks to buy

Now is budget time, and the countdown to the 2022-23 Union budget has begun. If the pandemic does not wreak havoc on Budget Day, Finance Minister Nirmala Sitharaman is likely to present her fourth budget on February 1 this year.

Last year, the government announced various stimulus packages that provided a long-awaited path to a strong recovery but also sent inflation soaring. The Federal Reserve has already hinted at rate hikes, and the Reserve Bank of India may also be considering raising rates and tightening liquidity in the financial system.

India’s economy will face a bumpy ride as coronavirus cases rise, thanks to a new concern. The real estate industry expects the government to increase capital spending as lockdowns and restrictions are in place. As such, the budget is expected to boost the affordable housing and rental housing ecosystem and strengthen existing financial infrastructure, thereby providing liquidity to distressed real estate projects. Likewise, a focus on the infrastructure sector is expected to increase the employment potential of the industry.

The hospitality industry is looking to lower taxes and incentives in offering interest-free loans, subsidies and lower tax rates. In the budget, there may be announcements about education. The government could provide tax breaks for Covid-19 patients and their families, as well as more deductions for medical expenses. The insurance industry hopes to include 5% of the consumption tax on health insurance from the existing 18% consumption tax, and in addition, micro-insurance, sachet products, etc. are exempt from consumption tax. There will be more road authority allocations for government kittens. Because this government needs to fully push its divestment agenda so that the government should have enough liquidity to support and sustain this massive capital expenditure, drive consumer demand and restore confidence in the banking system.

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Indian equities delivered a stunning return of around 32% in FY21 from January to October this year on the back of a favourable macroeconomic environment, policy stimulus from governments and central banks, strong corporate earnings and inflows from retail and institutional investors . These factors have helped Indian stocks outperform their peers. But with the end of the year, the tide turned to Indian stocks. As a result, the Indian market has corrected 8-9% from its all-time highs between October and mid-December.

Complete News Source : FINANCIAL EXPRESS

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

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3 weeks ago

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October 10, 2024

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Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise

Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.

Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.

Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.

Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.

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The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.

BCCI’s tribute

Additionally, the BCCI issued a statement about his demise.

“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.

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His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.

Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.

Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.

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